Skydiving Gear Financing - Revisited

[Unstable 8]

Hey Jumpers,

I brought this up almost a year ago, and the consensus was "Let's wait and see what happens in the market", so after 1 year, I'm revisiting the subject for further discussion. Hopefully what we discuss here can be useful to new jumpers trying to get into the sport.

How are gear companies coming along in plans to offer financing plans for new gear?

Logically, it makes sense. Gear is to many people, prohibitively expensive. A new system can cost just as much as a motorcycle, and a motorcycle company would be crazy for not offering financing plans.

Do any companies offer financing? If so, then what companies and on what contracts?

=========Shaun ==========

[CSpenceFLY 1]

Why would you not just go directly to your bank? If a manufacturer gets involved they are sure to charge higher interest rates then you could get on your own.

[rayf 0]

mirage has been offering finacing for a while
http://www.miragesys.com/DesignOrder/Financing.aspx

[millertime24 8]

Thats true. Its far easier to go to a bank and ask for a $6k personal loan (they dont need to know what its for)

Muff #5048

[likestojump 3]

here's what's easy and accessable to most people :

1) open paypal account and place credit card on file with them
2) pay the seller with paypal (they may ask you to absorb all the fees ~~ 3%) (you can opt to use Google checkout, if seller has it enabled)
3) play with the balance by using those low 2.9% or even 0& balance transfer offers

accessable to ANYBODY who has a credit card and a seller willing to use paypal.

I know it works great when I offer it when I sell gear.

[MagicGuy 0]

I would love to see this option. Even just for individual components like main canopies or containers. $2k for a new canopy is enough to want some help with!

[Waldschrat 0]

Here in germany a reseller from PDF(also Nitros) offers Gear Finacing....also only parts from gear.

[Dumpster 0]

I went with a signature loan and 2nd hand gear when I first started. Also, make friends with the gear dealers at your DZ. Sometimes you can get some pretty good deals.

Easy Does It

[WhoseNuts 0]

Well unfortunatly, i havent had to opportunity to buy my OWN gear yet. You can always join the Marine Corps, opt to go to iraq for a year (AS I HAVE, AND AM STILL HERE) make like 7k a month. Its great! but sucks because i have to sit here and read about HOW MUCH FUN people are having in the sky and i am here fighting bad dudes! I will return and we will all jump together? I am going to buy brand new gear when i get back only because i can...
Financing the mirage is hard, you have to have like SPOTLESS credit... for us LESS Fortunate)in the credit dept, uncle sam is always there to help =-)

[Unstable 8]

Your financing plan sounds like a good way to get shot...

=========Shaun ==========

[auburnguy 0]

I did all the numbers for my stuff and just put it all on a credit cards. Ill be able to pay it off in 2 years at the 18.24% interest rate. However at the end of 6 months I will be able to negotiate to lower the interest rate so Ill be able to pay it off a few months faster.

"If you don't like your job, you don't strike! You just go in every day, and do it really half assed. That's the American way."
- Homer Simpson

[Unstable 8]

This is a good point. Obviously this is how most gear dealers think, and I agree that in many cases, it's just practical.

I look at companies like Para-Service , which offers whole kit ' kaboodles for great prices. I'd bet that it would just be one step to help sell their wares if jumpers could make a 2-step process a 1-step process... Plus we would be keeping our money in an industry we like.

=========Shaun ==========

[sraja 0]

The gear shop at Deland is very unique (or atleast I have only seen such a policy there) in that they offer you new gear for 100 bucks a month. The catch is that they will rent your gear out when you are not using it and you can only jump it at Deland. Very good for those who call Deland their home DZ but not so good for those living in Kansas I suppose

[chriswelker 0]

Quote

I brought this up almost a year ago, and the consensus was "Let's wait and see what happens in the market", so after 1 year, I'm revisiting the subject for further discussion. Hopefully what we discuss here can be useful to new jumpers trying to get into the sport

You have to pay to play and that will cost between 1000 and 10000 depending on what you decide regarding training, gear, (new or used) and coaching.There is old saying in racing; speed costs, how fast do you want to go? Same thing can be said about skydiving; Skydiving costs, how good do you want to be?Skydiving is not a cheap activity and that is what potential participants need to know.

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How are gear companies coming along in plans to offer financing plans for new gear?

You should call Chase Bank and ask them when they are going into the skydiving gear manufacturing business.

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Logically, it makes sense. Gear is to many people, prohibitively expensive. A new system can cost just as much as a motorcycle, and a motorcycle company would be crazy for not offering financing plans.

Have you ever been in the lending business? Do you know anything about risk?

This would be a HIGH RISK loan. Who is going to pay the lender the balance of the loan if you bounce?


*** Do any companies offer financing? If so, then what companies and on what contracts?***


Chase, Cap. 1, B.A and the list goes on and on.If you have good credit the rate is between 7% and 28%

FYI did you know you can EARN $20,000 delivering pizzas in a years time. That would be more than enough to pay for some skydiving lessons and some gear, don't you think?

Chris